Seoul: Won gains as BOJ hold knocks US dollar/yen, stocks fall

[SEOUL] The South Korean won strengthened on Thursday after the Bank of Japan surprised markets by holding off from expanding stimulus, sending the yen higher and knocking the US dollar down more than 2 per cent.

The won was quoted at 1,138.2 to the US dollar at the conclusion of onshore trade, up 0.9 per cent compared with Wednesday's close of 1,148.3.

South Korean shares fell on profit-taking. The Korea Composite Stock Price Index (KOSPI) closed down 0.7 per cent at 2,000.92 points.

Most market heavyweights declined, with tech giant Samsung Electornics Co Ltd losing 2.7 per cent.

Offshore investors unloaded 196.2 billion won (S$232.73 million) worth of shares, snapping an 11-day buying streak. They had bought a total of 1.937 trillion won of KOSPI shares over the period.

REUTERS